How do I reclaim money from a dormant or forgotten bank account?

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It's more common than people expect to lose track of an old savings account, particularly after house moves, name changes, or simply switching banks and forgetting about a smaller account left behind, and reclaiming forgotten money is usually free and straightforward once you know where to look. **The free tracing service** My Lost Account (mylostaccount.org.uk) is a free service backed by UK Finance, the Building Societies Association, and National Savings & Investments, letting you search across most banks, building societies, and NS&I in a single application by providing your name, any previous names, and your address history covering the period the account might have been open. This is the recommended starting point rather than contacting dozens of individual banks separately. **What counts as a dormant account** An account is typically classed as dormant after a set period of no customer-initiated activity (commonly around 15 years, though this varies), at which point, under the Dormant Assets Scheme, the bank may transfer the balance to a central reclaim fund which channels unclaimed money towards good causes -- crucially, this transfer does NOT extinguish your right to the money; you can still make a claim at any point in the future, and the original bank remains responsible for verifying and honouring valid claims. **How the claims process works** Once you've identified which bank or building society likely holds your old account through the tracing search, you contact that institution directly to make a claim, typically providing proof of identity, proof of address (current and, ideally, address history covering when the account was open), and any documentation you still have relating to the account (an old passbook, statement, or account number, though these usually aren't essential if the bank can verify your identity against their records). **No time limit to reclaim** Unlike many other claims processes, there is no time limit on reclaiming money from a dormant account -- whether the account went dormant five years ago or fifty years ago, and regardless of whether the balance has since been transferred under the Dormant Assets Scheme, you (or your legal personal representatives, if you've since died) retain the right to reclaim the full original balance. **Interest and account closure history** Whether a dormant account continues to earn interest while dormant depends on the specific bank's terms and the type of account -- some interest-bearing accounts continue accruing, others may have been converted to a non-interest-bearing status after a period of dormancy, so ask the bank to explain exactly how the balance has been calculated when you make your claim. **Also check for other forgotten assets** While tracing bank accounts, it's worth also checking for other forgotten financial assets using similar free tracing services -- the Pension Tracing Service for old workplace or personal pensions, the unclaimed assets register for old life insurance policies and investments, and Premium Bonds (NS&I also has unclaimed Premium Bond prizes going back decades that many people don't realise they're owed). **Practical tip** When searching, include every address you've lived at and any previous surname (for example, following marriage or divorce), since the tracing search matches based on the details banks hold on file from when the account was originally opened, which may be considerably out of date compared with your current details.

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